Trump Sues Co-Founders of Trump Media

by | Apr 2, 2024

Donald Trump has filed a lawsuit against the co-founders of Trump Media & Technology Group Corp, alleging they violated an agreement establishing the social media company and should not receive any stock in it.

The lawsuit, filed on March 24 in Florida state court, contends that Andy Litinsky and Wes Moss do not deserve their 8.6% stake in the company. This legal action follows a lawsuit brought by Litinsky and Moss against Trump in Delaware Chancery Court, concerning their promised stake in the company.

Trump alleges that Litinsky and Moss neglected to establish the corporate governance framework of Trump Media adequately, failed to launch his Truth Social platform, and did not secure a suitable merger partner, which he contends damaged the company. He asserts that they subsequently engaged in continuous efforts to obstruct the blank check deal in pursuit of their respective stakes.

Read the lawsuit here.

Source: Bloomberg Law

 

 

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